Latest Market Research Trends Magnet Market Trends, Investment Feasibility 2021

Magnet Market Trends, Investment Feasibility
Analysis Report 2021
“Magnet market is driven by factors such as rising
demand for neodymium and dysprosium owing to
enhanced properties such as magnetization in small-
size products with higher magnetic strength and
enlarged pull force. ”
Global magnet market is anticipated to grow at a higher CAGR in the forecast period. Market drivers such as rising
need for permanent magnets for medical devices for disease inspection and effective drug diagnosis are expected to
boost the market demand. Based on type, the magnet market is segmented into iron boron, ferrite magnet, samarium
cobalt magnet and alnico magnet.
Neodymium iron boron magnet is expected to rise at a higher CAGR in the forecast period owing to its characteristics.
Neodymium magnets are known for super strength and rare earth magnets. Commercially, the magnet market witness
extensive and versatile usage in multiple industries and hence the international market is anticipated to rise at a higher
CAGR in the forecast period.
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